Tesla's dominance in the European auto market has taken a sharp turn in 2024. After celebrating a strong performance in 2023, where the Tesla Model Y became the best-selling car across the continent, the American electric vehicle (EV) giant now faces a significant decline in sales.
Gas-powered Cars Surge Forward
According to data from Jato Dynamics and Moto, the Model Y, which once topped the charts, dropped to 24th place in July 2024, marking a striking 16% decrease in consumer interest.
While the Model Y remains Tesla's best-selling vehicle in Europe, the overall shift in the market is clear.
Traditional gas-powered cars have surged back to the forefront. The Dacia Sandero led sales in July 2024, boasting a 34% increase. Following closely were the Volkswagen T-Roc and the Toyota Yaris Cross, the latter seeing a remarkable 47% jump in sales.
Overall Decline in EV-sales
Tesla's struggles aren't limited to the overall market. In the EV segment, the company has been overtaken by BMW, which sold 14,869 electric vehicles in July, compared to Tesla's 14,561. BMW's iX1 and i4 models were particularly popular, contributing to a 35% increase in the Bavarian automaker's EV sales.
Meanwhile, Volkswagen is closing in, with 12,213 battery-powered vehicles sold in July, led by the ID.4, which attracted 5,294 buyers.
The broader picture for the EV market in Europe isn't much brighter. Despite selling 139,244 electric vehicles in July 2024, the market saw a 6% decline compared to the previous year.
This downturn is attributed to several factors: a significant drop in the value of battery electric vehicles (BEVs), the phasing out of subsidies and tax incentives in various countries, and a general slowdown in sales across key markets like Germany.
